Which of the Following Is Not Considered a Deficiency of the Statement

question 33

Multiple Choice

Which of the following is not considered a deficiency of the statement of financial position?

• A)The amount of discretion in recording some transactions.
• B)The lack of recognition of inflation.
• C)The disclosure of assets and the claims against such assets.
• D)The conflict between relevant and reliable information.

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Definitions:

Sugar

A sweet crystalline substance obtained from various plants, primarily sugar cane and sugar beet, used as a sweetener in food and drink.

Trade Protection

Policies or actions taken by a government to protect its domestic industries from foreign competition.

National Security

The protection and preservation of a nation's people, economy, and institutions from external and internal threats.

National Security

The policies and measures that a nation undertakes to protect its citizens, economy, and institutions against external threats or aggression.